Measuring the Effectiveness of Real Estate Regulation (eBook)

Interdisciplinary Perspectives

Ronit Levine-Schnur (Herausgeber)

eBook Download: PDF

2020
XIV, 218 Seiten
Springer International Publishing (Verlag)
978-3-030-35622-4 (ISBN)

Infos

This book discusses the fundamental issues regarding the effect of real estate regulation on housing, urban development, and considerations of justice and efficiency. Bringing together the contributions of prominent scholars representing diverse methodologies and academic disciplines, this book offers new perspectives on core topics such as the effectiveness of land use regulation in terms of housing availability, enhanced equality, and sustainable development; and different modes of regulation and their mutual influences. 

The book's eleven chapters are divided into five parts which address different aspects of real estate regulation, combining theoretical analysis with a close observation of diverse case studies, from North America and Europe to China, the Middle East, and developing economies. Part I offers cutting-edge analysis on how to measure, model, and understand the impact of zoning and other modes of real estate regulation, from economic and normative theoretical viewpoints. Part II complements Part I by providing historical observations and empirical knowledge on the actual contribution of zoning and historical conservation regulation to cities' shape. Part III considers the outcomes of business and industrial land development policies. Part IV studies urban land development regulation and allows to compare between two relevant case studies-one from Germany, and the other from Poland. Finally, Part V concerns standardization in the real estate market by analyzing the justification and outcomes of such attempts, particularly in the mortgages market. 

Providing an interface between theory and practice, the book will appeal to a broad audience, consisting of scholars, policy-makers, practitioners, and students, interested in an interdisciplinary overlook on real estate regulation.

Ronit Levine-Schnur is a Senior Lecturer at the Harry Radzyner Law School, and a Research Associate at the Gazit-Globe Real Estate Institute at the Interdisciplinary Center (IDC) Herzliya. Dr. Levine-Schnur is a lawyer, an urban planner, and a property and land use law expert. She is mostly interested in studying and measuring the effects of regulatory and other legal mechanisms on the socio-spatial distribution of social and economic burdens and benefits and on the effects of social and economic factors on decision-making processes. Her current research project focuses on the effects of expropriation of private property and land use reforms on housing prices and urban thriving.

Inhalt

Introduction 5
Contents 10
Contributors 12
Part I Zoning and Land Use Regulation: Theory 14
Measuring the Demand for Land Under Sorting and Matching 15
1 Introduction 15
2 Literature Review 17
3 General Model 19
4 Monopoly Power 21
5 Dealing with Nonidentification 23
6 Conclusion 24
References 24
Capitalization and Exclusionary Zoning 26
1 Introduction 26
2 Conventional Exclusionary Zoning 28
3 Tiebout and Selecting for Taxes and Services 32
4 Capitalization of Public Benefits 35
5 Evaluating Capitalization 38
References 41
Part II Zoning and Land Use Regulation: Evidence 43
The Long-Run Impact of Zoning in US Cities 44
1 Introduction 44
2 The Introduction and Evolution of Zoning in the USA 46
3 Data 52
3.1 Land Use 53
3.2 Zoning 54
3.3 Geography 55
3.4 Transportation 56
3.5 Demographics 56
4 Results 57
4.1 Land Use Transitions 57
4.2 Regression Discontinuity Analysis 60
4.3 Sheaf Coefficients 63
5 Conclusion 66
References 67
Tracing the Effectiveness of Land Use Regulation: The Case of Heritage Protection Measures, Flexibility, and Adaptations 69
1 Introduction 69
2 Effectiveness of Land Use Regulations and Heritage Statutes 71
2.1 Effectiveness and Efficiency of Land Use Policies 71
2.2 Effectiveness of Heritage Policies and Regulations 72
3 Methodological Notes 75
3.1 Key Variables and Research Question 75
3.2 The Setting: Planning Conflicts and Appeals 75
3.3 The Setting: Choosing Jurisdictions for Comparative Analysis 76
4 Contextual Notes 77
4.1 A Brief Background on Heritage Regulation and Policy in England, Israel, and Oregon 77
4.1.1 Heritage Regulation in England: Rigidity Alongside Flexibility 77
4.1.2 Heritage Regulation in Israel: Growing Local Awareness to Heritage But Still a Flexible Approach to Heritage Development 79
4.1.3 Heritage Regulation in Oregon: Local Discretion and Flexibility, Alongside National Control and Guidance 80
4.1.4 Managing the Built Heritage in a Non-fanatic Manner? 81
4.2 A Brief Overview of Heritage Appeals: The Discretion of Appeal Tribunals and the Scope of Review 82
5 Identification and Content Analysis of Appeal Tribunal Decisions 82
6 Findings and Comparative Analysis 83
6.1 Type of Development Discussed on Appeal 83
6.1.1 A Breakdown of Appeals' Outcomes 85
6.2 The Outcome of Heritage Appeals 87
7 Conclusions 88
References 89
Part III Business and Industrial Land Development Policies 93
Scattered Governance: A Typology for Toronto's Business Improvement Areas 94
1 Introduction 94
2 BIAs in Urban Governance 97
3 The Legal and Spatial Basis of Toronto's BIAs 99
4 A Typology of BIAs in Toronto 102
5 Discussion 107
6 Conclusion 109
References 109
China's Land Granting Reform for Industrial Land: A Quasi-experimental Evaluation 111
1 Introduction 111
2 Reform of Industrial Land Granting Policy in China 113
3 Evaluation Based on National Total Granted Industrial Land 114
3.1 The Effect on the Proportion of Industrial Land Granted Through Negotiation 116
3.2 The Effect on Land Price 118
4 Evaluation Based on Provincial-Level Industrial Land Granting Data 119
4.1 The Effect on Negotiation Total Granted Land Area 121
4.2 The Effect on the Proportion of Land Granted Through Negotiation 124
5 Conclusions 125
References 126
Part IV Urban Land Development Regulation 129
Success Factors of Building Land Strategies: Differences and Commons of the Approaches 130
1 Introduction 130
2 Influences and Impacts on German Housing Market 131
3 Steering Instruments for an Urban Development 134
3.1 Land Policy Instruments 134
3.2 Financial Subsidies 135
4 Building Land Strategies as a Land Policy Instrument for Municipalities 135
5 The Research Design for the Analysis of Building Land Models 137
6 Results of the Case Study Analysis 140
6.1 Motivation to Pass Decisions 140
6.2 Correlation Between Urban Objectives and Model Content 142
6.3 Application of Building Land Models 145
6.4 What Is Appropriate? 147
6.5 Change in Land Value Levels 149
6.6 Success Factors and Recommendations 150
7 Opportunities and Limitation of Building Land Models 150
References 151
The Effect of Formal Property Rights Regime on Urban Development and Planning Methods in the Context of Post-Socialist Transformation: An Institutional Approach 153
1 Introduction 153
2 Complexity of Institutional Analysis 155
3 Property Rights Regime as an Institution in Urban Development 157
4 Conceptualization of Urban Development and Planning Methods 159
5 Introduction to the Polish Case Study 161
6 Legal and Conventional Aspects of Property Rights 162
6.1 The Doctrine of `Holy Property Rights' and the Primacy of Property Rights Over the Public Interest in the Polish Jurisprudence 162
6.2 The Complicated Issue of Poland's Restitution of Property and Characteristics of Post-Socialist Property Relations 163
7 Legal and Conventional Aspects of Land Use and Development 164
7.1 Distribution of Development Rights: Everybody Has the Right to Develop 164
7.2 Distribution of the Economic Rewards and Costs: Extensive Compensation Rights for Planning Injury and Limited Use of Value Capture Mechanisms 165
8 Urban Development Without Land Use Plans Based Only on Administrative Decisions: A Non-planning Regime and Market Governance Model 166
9 The Purest, Libertarian Form of `Actually Existing Neoliberalism' in the Field of Urban Development 168
References 170
Part V Standardization Efforts in the Real Estate Market 174
Anchoring and Adjustment in the Mortgage Market: A Regulatory Experiment 175
1 Introduction 175
2 The Israeli Housing Market 178
3 The Dataset 179
3.1 Data Construction: Maturity 179
3.2 Data Construction: Payment-to-Income (PTI) 180
3.3 Control Variables 182
4 Design 185
5 Results 188
6 Conclusions 189
References 190
Dealing with an Anchoring Bias in the Mortgage Market: A Regulatory Approach 192
1 Introduction 192
2 The Mortgage Illusion 193
3 Cognitive Heuristics and Economic Decision-Making 196
4 The Consequences of the Mortgage Illusion 197
5 Regulatory Solutions 199
5.1 Macro Mortgage Regulations 199
5.2 Restriction Adjustment and “Smart Regulation” for Biased Borrowers 200
5.3 Limitations as a Balancing Anchor 201
5.4 Clerical Alert 202
6 Conclusion 202
References 203
European Property Law: Competence, Integration, and Effectiveness 206
1 Introduction 206
2 The Competence of the EU 207
2.1 Positive Integration 209
2.2 Negative Integration 211
3 Effectiveness of EU Law: Three Examples 211
3.1 Introduction 211
3.2 Mortgages 212
3.3 Succession Law 213
3.4 Digitalization 215
4 Concluding Remarks 219
References 219

Produkt-Details

• Erscheint lt. Verlag: 19.3.2020
• Zusatzinfo: XIV, 218 p. 41 illus., 5 illus. in color.
• Sprache: englisch
• Themenwelt: Recht / Steuern ► Öffentliches Recht
• Themenwelt: Sozialwissenschaften ► Politik / Verwaltung
• Schlagworte: Development Policy • Mortgages • public goods • Real Estate • Regulation • Urban Development • urban politics • zoning
• ISBN-10: 3-030-35622-1 / 3030356221
• ISBN-13: 978-3-030-35622-4 / 9783030356224